Protégé Partners, the $2.4 billion emerging manager specialist fund of funds founded by Jeff Tarrant and Ted Seides, is branching into the hedge fund market.
New York-based Protégé will soon launch a "best ideas" strategy that will make direct long and short bets on corporate equities and bonds. Its portfolio will be concentrated in 12 to 20 positions and themes and will be run by Soros Fund Management alumnus Scott Bessent, who joined Protégé last year.
Protégé's principals will personally commit more than $30 million to the new strategy. The firm's funds of funds will...